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Tech Firms Lease Major Manhattan Real Estate In 2019 |
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Status: Available Now!
Type: News
Date: Friday 23 August 2019, 12:00 AM
Media: Curbed
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About the organization Facebook:
Type: Business
Sub-Types: Website, Social Networking Agent, Text Hosting Agent, Picture Hosting Agent, Blogging, Microblogging |
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Notable Organizations: Facebook, Curbed
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| Tech firms are expanding their grasp on Manhattan’s commercial real estate market, with this year’s leasing activity already outpacing its 2018 numbers. According to commercial real estate services and investment firm CBRE, the industry’s leasing activity accounted for 15 percent of the nearly 15 million square feet of office leases signed in Manhattan during the first half of the year, up from 10 percent in all of last year.
Commercial leasing group Cushman and Wakefield found a similar trend, citing that TAMI industries (that’s tech, advertising, media, and information) leased 74.3 percent more space in Manhattan by the end of the second quarter of 2019 than compared to the same time last year. |
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